Connect with us

News

SAD Report; World Bank warns over unrest in Nig, Kenya, others, says 464m sub-Saharan Africans live in abject poverty

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

The World Bank has revised its economic growth forecast for the Sub-Saharan Africa (SSA) downward to 3% for this year, a drop from the initial 3.4% projection made in April.

This change is largely attributed to the devastating impact of Sudan’s escalating civil war on its economy.

The region’s growth has been slowing down, with the three largest economies – Nigeria, South Africa, and Angola – experiencing a significant slowdown, averaging only 1.8% growth last year.

This downturn is a concern, especially considering the region’s history. For instance, in 2020, Sub-Saharan Africa’s output contracted by 2.4% due to the COVID-19 pandemic, marking the first economic contraction in a generation and the deepest recession since the 1960s.

Advertisement

The World Bank’s latest report, Africa Pulse published on Monday, highlights these challenges and provides valuable insights into the region’s economic prospects.

It’s essential for policymakers and stakeholders to address these issues to foster sustainable growth and development in Sub-Saharan Africa.

“The downgrade is partly explained by the collapse of economic activity in Sudan caused by the armed conflict, which has destroyed physical and human capital as well as state capacity, with adverse impacts on food security and greater forced displacement,” the World Bank stated.

According to the report, Sudan’s economy is projected to decline by 15.1% in 2024 before recovering slightly the next year with 1.3% growth. The northeast African country has been embroiled in a violent conflict since April 2023, with UN estimates putting the death toll in the thousands. Around 11 million people have been displaced.

Advertisement

Ahead of the report’s release, the World Bank’s chief economist for Africa told reporters on Friday that without the Sudanese conflict, regional growth in 2024 would have been 3.5% higher and in line with the initial April estimate.

“So that’s how much this is knocking off the regional growth rate,” Andrew Dabalen said, adding that “Sudan, the economy, has basically completely disappeared.”

Regardless, the Washington-based lender expects economic growth in 1.24 billion-strong SSA to accelerate to 4% in 2025 and 2026. This will be driven by an expected boost in private consumption and investment, owing to lower interest rates as the region’s inflation rate falls to 4.8% this year from 7.1% in 2023.

The institution also expressed concern about the region’s per capita growth, claiming that it has not been sufficient to reduce extreme poverty. It stated that SSA’s real income per capital in 2024 is about 2% lower than it was in 2019 before the COVID-19 pandemic.

Advertisement

“The number of poor people increased from 448 million in 2022 to 464 million in 2024,” it stated.

“The high cost of living, corruption, and, more broadly, weak governance have triggered protests and palpable anger among the youth in Kenya, Nigeria, and Uganda – unrest that could spread throughout the region,” the World Bank warned.

Continue Reading
Advertisement
Click to comment

Warning: Undefined variable $user_ID in /home/naijuinz/public_html/wp-content/themes/zox-news/comments.php on line 49

You must be logged in to post a comment Login

Leave a Reply

News

Congress moves to halt US assistance to Nigeria over FG’s failure to protect citizens

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

The United States House of Representatives has endorsed an amendment that would increase the withholding of certain US assistance to Nigeria from 50 percent to 100 percent until the country takes effective steps to address violence and improve the protection of its citizens.

The amendment, proposed by Representative Gregory Steube of Florida’s 17th Congressional District, was adopted by a voice vote on Wednesday.

The House had earlier proposed withholding 50 percent of funds appropriated for Nigeria until the US Secretary of State certifies that the Nigerian government has taken “effective steps to prevent and respond to violence and hold perpetrators accountable”.

Under the new amendment, the withholding would increase to 100 percent, while retaining the same conditions for the release of the funds.

Advertisement

Speaking in support of his motion, Steube said withholding only 50 percent of the funds appeared to reward the Nigerian government “despite failure to meet its fundamental obligation to protect citizens”.

“I rise in strong support for my amendment to increase the withholding threshold for assistance to Nigeria, from 50 percent to 100 percent. While keeping in place benchmarks that demand Nigeria take effective steps to address the violence and persecution that continue to devastate the country.

“Nigeria has faced a horrific wave of violence that its corrupt government has failed to address.

“For years, and especially in recent months, Christians and other religious minorities in Nigeria have been subjected to violence and terrorism at the hands of extremists operating with impunity.

Advertisement

“Christian women and girls continue to be abducted, assaulted, tortured, and killed. Their churches are burned, and entire communities are erased.

“If the aid conditions included in the bill are important enough to withhold half of all the funding to the Nigerian government, then they are important enough to withhold all of the funding.

“The generosity of our taxpayers is a reflection of the American values we hold so firmly.

“Never should we allow their hard earned tax dollars to be funnelled to corrupt regimes that fail to uphold religious freedom, fail to adequately confront terrorism, and fail to protect the innocent from persecution.

Advertisement

“So, why are we rewarding a government that fails to meet such a basic obligation?”

Steube said it is absurd to expend foreign aid to Nigeria in the face of rising insecurity, especially as America’s national debt approaches $40 trillion,” Gregory Steube stated.

Continue Reading

News

If Umahi’s daughter was found naked and dead in a poor man’s house Nigeria would’ve been on fire-Dalung

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

Ex- Minister of Youth and Sports, Barrister Solomon Dalung, has criticised what he described as double standards in the investigation into the death of physiotherapist Mary Habila, saying the public response would have been entirely different if the victim had been the daughter of a government official

Dalung made the remark while reacting to the controversy surrounding Habila’s death at the country residence of the Minister of Works, David Umahi, in Uburu, Ohaozara Local Government Area of Ebonyi State.

Speaking in a video shared on social media, the former minister questioned the pace and manner of the investigation, arguing that ordinary Nigerians are often subjected to harsher scrutiny than powerful public office holders.

“If Umahi’s daughter had been found naked in a poor man’s house, Nigeria would be burning,” Dalung said, suggesting that the circumstances surrounding Habila’s death would have attracted a different level of public outrage and official response if the roles had been reversed.

Advertisement

Mary Habila, a 26-year-old physiotherapist from Kaduna State, was found dead at Umahi’s residence on June 27, 2026. She was reportedly attached to the David Umahi Federal University of Health Sciences and had been seconded to the Federal Ministry of Works.

Umahi has since confirmed the incident, describing Habila as a dedicated member of staff who had worked with him for about three years. He said emergency medical personnel were contacted immediately after she was found unresponsive and disclosed that he advised the family to consent to an autopsy to determine the exact cause of death.

The minister has repeatedly denied allegations of any cover-up, insisting that he has nothing to hide and supports a thorough investigation into the circumstances surrounding the physiotherapist’s death.

Meanwhile, the Nigeria Police Force transferred the case to the Ebonyi State Criminal Investigation Department (CID) for further investigation, as public interest in the incident continues to grow.

Advertisement

Dalung’s remarks add to the increasing calls for transparency and accountability in the investigation, with many Nigerians demanding that the case be thoroughly investigated and that its outcome be made public regardless of the status of those involved.

Continue Reading

News

DAY 27 of Projects Commissioning and Flag-Off in the FCT

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

Launch of the Sales Office/Experience Centre: The Abuja City Walk Development

#FCTProjects2026
#FCT31DaysCommissioning

Continue Reading

Trending

Copyright © 2024 Naija Blitz News